Adient (NYSE:ADNT) Price Target Cut to $19.00 by Analysts at Morgan Stanley

Adient (NYSE:ADNT) had its target price cut by Morgan Stanley from $21.00 to $19.00 in a research note released on Thursday,Benzinga reports. They currently have an underweight rating on the stock.

ADNT has been the subject of a number of other research reports. Wells Fargo & Company lowered their target price on Adient from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, September 20th. UBS Group lowered their target price on Adient from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Wolfe Research initiated coverage on Adient in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Bank of America lowered their target price on Adient from $35.00 to $30.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Barclays lowered their target price on Adient from $29.00 to $24.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Adient has an average rating of “Hold” and an average price target of $25.13.

Adient Trading Down 2.5 %

Shares of NYSE ADNT traded down $0.51 during trading hours on Thursday, reaching $19.89. The stock had a trading volume of 487,106 shares, compared to its average volume of 1,232,859. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.98. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 88.70, a P/E/G ratio of 0.44 and a beta of 2.18. The business’s fifty day moving average price is $21.38 and its two-hundred day moving average price is $23.98. Adient has a 52-week low of $19.30 and a 52-week high of $37.19.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. The firm had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.47 billion. Adient had a return on equity of 6.86% and a net margin of 0.12%. Adient’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 earnings per share. Analysts expect that Adient will post 2.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Adient

Hedge funds have recently made changes to their positions in the company. CWM LLC increased its position in shares of Adient by 44.5% in the 2nd quarter. CWM LLC now owns 1,439 shares of the company’s stock valued at $36,000 after acquiring an additional 443 shares during the period. US Bancorp DE boosted its holdings in Adient by 583.8% in the third quarter. US Bancorp DE now owns 1,860 shares of the company’s stock valued at $42,000 after purchasing an additional 1,588 shares during the last quarter. Signaturefd LLC boosted its holdings in Adient by 493.8% in the third quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock valued at $49,000 after purchasing an additional 1,822 shares during the last quarter. Covestor Ltd boosted its holdings in Adient by 201.5% in the first quarter. Covestor Ltd now owns 3,307 shares of the company’s stock valued at $109,000 after purchasing an additional 2,210 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Adient by 51.8% in the third quarter. KBC Group NV now owns 3,328 shares of the company’s stock valued at $75,000 after purchasing an additional 1,136 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Adient Company Profile

Adient plc engages in the design, development, manufacture, and market of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's automotive seating solutions include complete seating systems, frames, mechanisms, foams, head restraints, armrests, and trim covers.